Mike Viscuso at the new multi-level complex he is calling Mike’s La Jolla.

Mike Viscuso at the new multi-level complex he is calling Mike’s La Jolla.

Mike Viscuso at the new multi-level complex he is calling Mike’s La Jolla.

One of San Diego’s longtime nightlife moguls is investing up to $3 million to reinvent the cavernous Jack’s La Jolla space into a mammoth entertainment venue that will include seven bars, three restaurants, a nightclub — and 300 new jobs.

The latest venture by Mike Viscuso, known for several nightclubs he has opened in downtown San Diego and Hollywood, comes nearly a year after the Jack’s dining complex closed abruptly, leaving behind disgruntled, unpaid employees and hundreds of thousands of dollars in delinquent sales taxes.

What Viscuso envisions for the building is remarkably similar to Jack’s, regarded as a groundbreaking, albeit daring, project when it opened nearly five years ago.

Like Jack’s, the new multi-level complex Viscuso is calling Mike’s La Jolla, will have a variety of dining options, from casual to elegant, multiple bars with different vibes and a late-night club catering to a primarily younger crowd.

Viscuso, who will relocate his corporate offices from downtown to the Girard Avenue building, said Mike’s will include a street-level coffee shop that will remain open until 3 a.m. on weekends and serve breakfast, as well as hot dogs, pizzas by the slice and homemade pretzels and churros.

A casual oceanview lunch spot will feature menu items priced at $15 and below, while an 80-seat, fine-dining steakhouse will include a piano bar and possibly a jazz trio.

“The actual nightclub on the third floor will have cabanas indoors, and the flooring will look like little stones like you’re at the beach,” explained Viscuso. “These big doors will stay open, and the flooring will flow out to the enclosed patio, with kind of a beachy feel to it. but not like a Pacific Beach bar. The whole third floor will be high energy, with themed nights for music.”

Viscuso admits he is taking a financial risk given the still fragile economy, but says he’s confident his project will succeed because of his decades of experience in the night life industry. His 10-year lease, which he finalized this week, also has generous lease terms that include free rent, which Viscuso said will give him some extra time to ride out the downturn while he builds the business.

He noted that Jack’s had a fairly high-volume business for much of the nearly four years it was open.

“I agree the economy right now is off, it’s unpredictable, but there was an opportunity to acquire a property someone spent millions of dollars on where I can come in and at a fraction of that cost create a new business,” said Viscuso, who is adding new kitchen and bar equipment, flooring, wall coverings and lighting to the 18,500 square-foot space.

Although he has yet to acquire his liquor license, Viscuso says he met months ago with the San Diego City Attorney’s office and Police Department to satisfy any concerns they might have about his planned mega operation. He is still awaiting approval from the state Department of Alcohol and Beverage Control and also needs an entertainment permit from the city of San Diego.

During the final months that Jack’s was open, it was bedeviled by a growing number of noise complaints stemming from “18 and up” events it staged that drew a younger, more unruly crowd, said San Diego police Lt. Andra Brown. The groups the events were attracting, she said, did not blend well with the more genteel feel of the surrounding Girard Avenue businesses.

A La Jolla resident responsible for developing On Broadway, Deco’s and the belo nightclubs, Viscuso said his vision for Mike’s will cut across a wide demographic, from tourists and locals to young clubgoers and older diners who want a quiet, elegant evening out.

Former Jack’s owner Bill Berkley, whose long-term master leasehold was eventually foreclosed on by his lender, blamed the ailing economy in part for the closure but hinted at other troubles. He said Friday he was unable to comment further because of an ongoing investigation. Berkley had invested between $4 million and $7 million in Jack’s.

Viscuso, whose last major project was the nearly 40,000-square-foot Kress, an upscale dining and entertainment complex in Hollywood, said he believes there is a strong market in the north coastal community for a late-night entertainment destination.

“I’ve been in San Diego over 20 years, and I understand the market, and there’s not a venue like this in La Jolla,” he added. “People from the north don’t want to go downtown. And I’m not just focusing on the young kids. I’m catering to families all the way up to seniors.”

In the coming weeks, he said he plans to court La Jolla community leaders and outline his plans for the new operation, although local boosters say they welcome a strong, experienced operator who will bring vitality to a key part of the business district.

“Mike is the perfect guy to do it, he has a long track record of successful businesses in this niche,” said George Hauer, owner of George’s at the Cove, a La Jolla mainstay in the dining and bar scene. “Tax-producing businesses in empty spaces are a lot better than empty spaces. At one time, we had 30,000 square feet of closed restaurant space alone.”

Deborah Marengo, former president of the nonprofit group Promote La Jolla, is equally bullish about the prospect of drawing more visitors to La Jolla.

“We took a hard hit, and the economy really affected the night life and tourism in general,” she said. “We need to show people there’s revitalization going on in La Jolla, and that will bring people here.”

Viscuso was among a number of parties who had expressed interest in the former Jack’s space, despite its daunting size and location in a community that is still trying to recover from the prolonged recession, said Bill Shrader, senior director with Cushman & Wakefield, which represented the holder of the master lease for the 35,000-square-foot building.

“This is a sexy business that people like to get involved with,” said Shrader. “It’s a pure entrepreneurial business, and there are a lot of people who like to do this, even in this market. Mike has proved staying power, which is why he was chosen.”

Viscuso, who also has plans to transform the former Jade Theater in downtown San Diego into a major nightclub and dining venue, said he will hold a job fair in September in which he plans to hire as many 500 people for mostly part-time positions, from dishwashers to managers, at both businesses. Because Mike’s will be open seven nights a week, Viscuso said he will need to fill many slots.